Personal Finances

Most Americans say they have enough money to live comfortably. When asked specifically about their personal finances, 13 percent describe them as very shaky. At the other end of the spectrum, slightly more, 19 percent, say they are very secure. Republicans are more satisfied with the way things are going for them financially than Democrats and Independents are, but majorities of the latter two groups say they are satisfied, too.

My personal finances these days are

Very secure . . . . . . . . . . 19%

Fairly secure . . . . . . . . . 45%

Fairly shaky . . . . . . . . . . 22%

Very shaky . . . . . . . . . . . 13%

Note: The Los Angeles Times asked this question for the first time in 1991. In that year, 13 percent described their finances as very secure, 55 percent as fairly secure, 20 percent as fairly shaky, and 11 percent as very shaky. In 1997, those responses were 14, 51, 19, and 14 percent, respectively.
Source: Los Angeles Times/Bloomberg, April 2007.

A near-majority in a CBS News/New York Times question says that household income is just enough to pay bills and obligations. Thirty-seven percent say that they are able to save and buy some extras, and 13 percent say they aren’t keeping up. Fourteen percent say they are very worried about having enough money to pay their normal monthly bills. Polls show that being able to pay health care costs is a worry for Americans, and about a quarter say there has been a time in the past year when they haven’t been able to afford needed health care for themselves or for a family member.

My household income is...

More than enough so that I can save and buy some extras . . . . . . . 37%

Just enough to meet my bills and obligations . . . . . . . . . . . . . . . . . . . 49%

Not enough to meet my bills and obligations . . . . . . . . . . . . . . . . . . . . 13%

Note: In 1996, when CBS News and The New York Times first asked this question, the responses were 27, 55, and 16 percent, respectively.
Source: CBS News/New York Times, February 2007.

Income tax I have to pay this year

1997

Is fair . . . . . . . . 51%

Is not . . . . . . . . 43%

2007

Is fair . . . . . . . . 60%

Is not . . . . . . . . 37%
Source: The Gallup Organization, April 2007.

I trade stocks and bonds . . 28%

Do not . . . . . . . . . . . .. . . . . . . . 71%
Source: Pew Research Center, December 2006–January 2007.

Least fair federal tax

Estate tax . . . . . . . . . . .  31%

Federal income tax . . . 25%

Social security tax . . . .  14%

Federal corporate tax . . . 7%

Least fair state and local tax

Local property tax . . . . . 39%

State income . . . . . . . . . 20%

Sales . . . . . . . . . . . . . . . .18%

State corporate . .  . . . . . 7%
Source: Harris Interactive/Tax Foundation, March 2007.